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Verizon/Yahoo deal to cost 1,000 jobs; Sirius, Pandora disagree on price


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Verizon/Yahoo deal to cost 1,000 jobs; Sirius, Pandora disagree on price

Top News

* Verizon Communications Inc.'s acquisition of Yahoo! Inc. assets could result in up to 1,000 job cuts at Yahoo and AOL Inc., Recode reports, citing sources. The deal is expected to close in the next few days.

* Sirius XM Holdings Inc. is considering an investment in Pandora Media Inc. after talks to fully acquire the streaming radio company fell apart over disagreements on price, Reuters reports, citing people with knowledge of the matter. A recent report indicated that Verizon is mulling a $100 million investment in Pandora, as well.

* Pay-per-view ring sports are about to kick into gear with a busy June, ahead of what should be a robust schedule over the balance of 2017. Last month, Canelo Alvarez's lopsided victory over Julio Cesar Chavez on Cinco de Mayo weekend surpassed 1 million pay-per-view buys, the most for boxing since the record-setting Floyd Mayweather-Manny Pacquiao clash drew 4.4 million buys on May 2, 2015, according to Golden Boy Promotions Chairman and CEO Oscar De La Hoya.


* A team from Alphabet Inc.'s Project Wing participated in tests organized by NASA and the Federal Aviation Administration for a drone-tracking system, according to an official blog post. The company said the test revealed that its traffic management platform can manage the complex flight paths of multiple unmanned aircraft systems at the same time.

* In more company news, U.S. District Judge William Alsup of the Northern District of California rejected Uber Technologies Inc.'s request for a stay in a legal dispute with Alphabet's Waymo self-driving car unit, reports. The judge imposed a limitation on new discovery requests, but urged Uber to get its employee Anthony Levandowski, who is accused of stealing trade secrets from competitor Waymo, to comply with discovery requests and to return any confidential material that he allegedly stole. The case set to go on trial in October.

Regulation & Policy

* Connected devices often represent cheap, low-hanging fruit for cyber criminals, said Bruce Schneier, a security expert and special adviser to IBM Security, speaking June 7 at Infosecurity Europe in London. As the internet is integrated into a myriad of objects in homes, offices and public spaces, greater attention and more public-private coordination is needed to address security vulnerabilities, he said.

Internet & OTT

* Emily Horne, former assistant press secretary for the National Security Council, joined Twitter Inc. as its new communications director, Recode reports. Horne will be in charge of Twitter's messaging and communications for all things related to Twitter policy, including issues of abuse, hate speech and user privacy.

* Comcast Corp.'s NBC News unveiled a new digital video unit, called NBC Left Field, according to a video shared on Google Inc.'s YouTube. The new division will work to produce exclusive programming for social media.

* Inc. has lent more than $3 billion to small businesses since 2011, while the loans have crossed $1 billion in the last 12 months. The company said it offered loans to more than 20,000 small businesses across the U.S., the U.K., and Japan.

* Facebook Inc. is rolling out disaster maps to provide aid organizations with location data about people affected during natural disasters, according to a company post.

TV Networks

* 21st Century Fox Inc. unit Fox Networks Group launched the FOX NOW app on Apple Inc.'s iOS, with plans to make it available on Roku devices and Android devices later this month, the company said. The app allows authenticated TV subscribers to access live and on-demand programming from FOX (US), FX Network (US) and National Geographic Channel (US).

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng rose 0.34% to 26,063.06, while the Nikkei 225 was down 0.38% to 19,909.26.

In Europe, around midday, the FTSE 100 was down 0.07% to 7,473.06, and the Euronext 100 rose 0.23% to 1,021.94.

On the macro front

The jobless claims report, the quarterly services survey, the EIA natural gas report, the Fed balance sheet and the money supply report are due out today.

Featured news

The Daily Dose Asia-Pacific: Uber fires head of Asia Pacific; KKR offers to buy Vocus Group: Private equity firm KKR made a nonbinding offer to acquire Australian telco Vocus Group, while Eric Alexander, Uber's president of business for Asia Pacific, was fired following a probe into sexism and sexual harassment at the ride-hailing giant.

The Program Guide: Bravo sets debut date for 'Odd Mom Out' season 3; Netflix cancels 'Sense8': The cancellation of Netflix Inc.'s sci-fi drama "Sense8" and the exclusive July 28 debut of F. Scott Fitzgerald-inspired "The Last Tycoon" on Amazon Prime are included in this edition of The Program Guide.

Apple working on AI chip; Alphabet's Waymo tests self-driving trucks: In this feature, S&P Global Market Intelligence presents a bi-weekly global roundup of the latest developments in technology.

Featured research

Global Multichannel: Global markets update - Brazil, Philippines, Italy, Ireland, Romania, Croatia: Kagan has published updated Global Multichannel & Broadband analysis for six markets.

Economics of TV & Film: Walt Disney goes 2-for-2 with profitable May film releases: The tough times at the box office translated into less-than-stellar results in this month's film profit projections for nearly every distributor not named Walt Disney Co.

Consumer Insights: OTT User Profile: United Kingdom: Online subscription video use is a common activity in the U.K. according to results from our online consumer survey where 61% of respondents indicated they used at least one of these services.

Wireless Investor: Small cell projections by carrier: Small cells are especially hot right now because carriers need more of them to increase network capacity for 5G and to densify existing 4G networks.

The Daily Dose is updated as of 7 a.m. ET. Some external links may require a subscription.